Veidekke will build also the fourth phase of the Frysjaparken housing project
for OBOS Nye Hjem and Stor-Oslo Eiendom. The assignment is a a design and build
contract worth 588 million kroner excl. VAT.

"We are grateful for the renewed trust and the commissioning of the fourth
construction phase at Frysja. We have now worked with Stor-Oslo Eiendom and OBOS
on the development of Frysjaparken for seven years, in a collaboration
characterized by mutual trust, ambitious goals, and a strong commitment to
bringing out the best in each other. We look forward to continuing this
partnership at Frysjatunet as well," says Morten Barreth, Department Manager at
Veidekke Construction Oslo.

Frysjatunet is located next to the forest in Oslo and comprises 162 apartments
ranging from two to five rooms, with sizes between 44 and 140 square meters,
spread across four buildings of four to seven storeys. The project includes the
construction of a shared basement with storage units, technical rooms, and
parking facilities for bicycles and cars, in addition to a kindergarten, some
commercial space at street level and the development of outdoor areas.

"At Stor-Oslo Eiendom we are very pleased to continue our collaboration with
Veidekke's team at Frysja. This further builds on our joint efforts in
developing Frysjaparken as an attractive residential destination," says Project
Manager Kristoffer Sandstad Hansen.

Since Veidekke broke ground in 2018, they will have built 850 apartments at
Frysja by the time Frysjatunet is completed in 2028. The total contract value
for Veidekke's projects in Frysjaparken amounts to approximately NOK 2.5
billion, excluding VAT.

Construction work at Frysjatunet is already underway, with planned occupancy
starting in the fourth quarter of 2027. Read more about the project
here (https://www.obos.no/bolig/nabolag/frysjaparken#2269).

The contract will be included in Veidekke's order backlog for the second quarter
of 2025.

For further information, please contact:

Head of department Morten Barreth, Veidekke Bygg Oslo, tel. +47 93 88 37 16,
morten.barreth@veidekke.no

Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22,
helge.dieset@veidekke.no

Project Manager Kristoffer Sandstad Hansen, Stor-Oslo Eiendom, tel. +47 98 08 26
89, kristoffer@soeiendom.no

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Veidekke (http://www.veidekke.no) is one of Scandinavia's largest contractors.
In addition to undertaking all types of building and civil engineering
assignments, the group also maintains roads and produces asphalt and aggregates.
Veidekke emphasises stakeholder involvement and local experience. Its annual
turnover is approximately NOK 41 billion, and half of its 8,000 employees own
shares in the company. Veidekke is listed on the Oslo Stock Exchange and has
posted a profit every year since its inception in 1936.